Cim LLC Has $12.30 Million Stock Position in Spotify Technology $SPOT

Cim LLC lifted its position in shares of Spotify Technology (NYSE:SPOT – Free Report) by 404.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,353 shares of the company’s stock after buying an additional 17,926 shares during the quarter. Spotify Technology comprises 1.8% of Cim LLC’s holdings, making the stock its 21st biggest position. Cim LLC’s holdings in Spotify Technology were worth $12,295,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPOT. Goldman Sachs Group Inc. lifted its holdings in shares of Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after buying an additional 1,601,653 shares in the last quarter. Jennison Associates LLC raised its stake in Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares in the last quarter. GAMMA Investing LLC raised its stake in Spotify Technology by 75,856.5% in the first quarter. GAMMA Investing LLC now owns 717,789 shares of the company’s stock valued at $394,805,000 after purchasing an additional 716,844 shares in the last quarter. Nuveen LLC acquired a new position in Spotify Technology in the first quarter valued at about $383,139,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Spotify Technology by 311.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,745 shares of the company’s stock valued at $377,027,000 after purchasing an additional 638,047 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPOT. Bank of America boosted their price target on Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. Barclays dropped their price target on Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Wells Fargo & Company boosted their price target on Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. KeyCorp dropped their price target on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Finally, DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price target for the company in a research note on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $721.07.

Get Our Latest Research Report on Spotify Technology

Spotify Technology Stock Down 1.9%

Spotify Technology stock opened at $691.00 on Friday. Spotify Technology has a 12-month low of $337.13 and a 12-month high of $785.00. The business’s 50-day moving average price is $694.05 and its two-hundred day moving average price is $648.12. The stock has a market cap of $141.45 billion, a PE ratio of 167.72, a P/E/G ratio of 3.03 and a beta of 1.71.

Spotify Technology (NYSE:SPOT – Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

(Free Report)

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.

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